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| Sunday, 9 January 2005 |
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World Bank to fund recovery process by Jayantha Sri Nissanka World Bank President James Wolfensohn yesterday pledged that the World Bank will provide assistance for the recovery process and build better facilities for the people affected by the tsunami disaster. The World Bank has so far pledged US $ 175 million assistance to Sri Lanka. Addressing the Media at Hotel Hilton, Colombo prior to meeting President Kumaratunga after visiting devastated Hambantota, he said that the Government was making an excellent work to overcome the situation. Wolfensohn also met the Prime Minister, Ministers and members of the Opposition parties. He was impressed the way the Government, Private Sector, NGOs and local communities responded to the Tsunami disaster. "I have seen remarkable response in 24 hours. That is the strength of this country", he added He said that the World Bank is ready to help the Government and other organisations to rebuild the country. Wolfensohn noted that the World Bank is looking at the possibility of providing cash grants to affected families and grants and concessionary loans to fishermen and identified small and medium businesses. He also noted that people should put rivalries behind at a time like this. "We are going to proceed on the assumption that this is a human tragedy. This is not a Sinhala or Tamil tragedy", he said. Responding to a question he confirmed said that the World Bank is considering debt relief. "Debt relief is something that should be looked at. Several leaders at the G8 also discussed about this. Sri Lanka has to pay US$ 600 million this year for payments and interest", he noted. |
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